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Mullion, Oct-Jun (Cumulative 3Q) Ordinary Profit Decreases by 47%, Apr-Jun Ordinary Profit Decreases by 10%

Wed Aug 13, 2025 3:30 pm JST Earnings

3494 Mullion Co., Ltd. 【J-GAAP】

Earnings Report

Mullion Co., Ltd. <3494> [TSE Std] announced its financial results after the market closed on August 13th (15:30). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending September 2025 (October 2024 to June 2025) dropped 46.6% from the same period last year to 95 million yen. Progress toward the full-year plan of 600 million yen was 15.8%, also falling below the five-year average of 101.2%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the July to September period (4Q) is expected to expand 46.8% from the same period last year, reaching 505 million yen.

In the most recent three-month period, from April to June (3Q), the ordinary profit decreased to 27 million yen, a 10.0% decrease compared to the same period last year. The operating profit margin decreased from 18.7% in the same period last year to 15.4%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Oct - Jun, 2022 2,432 382 210 145 18.6 131.3 Aug 14, 2023 J-GAAP
Oct - Jun, 2023 1,462 309 178 122 15.6 34.1 Aug 13, 2024 J-GAAP
Oct - Jun, 2024 1,281 239 95 63 8.1 15.8 Aug 13, 2025 J-GAAP
YoY -12.4% -22.7% -46.6% -48.4% -47.9%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 1,799 458 374 241 30.8 5.20 Nov 13, 2024 J-GAAP
Apr - Sep, 2025 Guidance 2,426 639 532 354 45.2 6 Jul 2, 2025 J-GAAP
YoY +34.9% +39.5% +42.2% +46.9% +46.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep, 2023 2,808 382 160 142 18.2 2.80 Nov 13, 2023 J-GAAP
Sep, 2024 2,876 695 522 342 43.7 5.20 Nov 13, 2024 J-GAAP
Sep, 2025 Guidance 3,200 800 600 400 51.0 6 Jul 2, 2025 J-GAAP
YoY +11.3% +15.1% +14.9% +17.0% +16.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 385 72 30 21 2.7 18.7 Aug 13, 2024 J-GAAP
Jul - Sep, 2024 1,414 386 344 220 28.1 27.3 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 390 84 37 25 3.3 21.5 Feb 13, 2025 J-GAAP
Jan - Mar, 2025 384 77 31 21 2.7 20.1 May 13, 2025 J-GAAP
Apr - Jun, 2025 507 78 27 17 2.2 15.4 Aug 13, 2025 J-GAAP
YoY +31.7% +8.3% -10.0% -19.0% -18.6%

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